what is newrest travel retail

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What Is Newrest Travel Retail ?

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Newrest Travel Retail Revenue and Competitors

Toulouse , usa, estimated revenue & valuation.

• Newrest Travel Retail 's estimated annual revenue is currently $58.4M per year. (i)
• Newrest Travel Retail 's estimated revenue per employee is $ 270,600
• Newrest Travel Retail has 216 Employees. (i)
• Newrest Travel Retail grew their employee count by 2% last year.

Newrest Travel Retail 's People

Newrest travel retail competitors & alternatives add company.

Newrest Travel Retail focus on the development of innovative products on board trains and aircraft by capitalizing on the solid experience acquired by its multidisciplinary teams in the fields of on-board service, logistics and experience customer management. As such, the company invests heavily in the development of state-of-the-art digital tools to facilitate retail sales. With the internalisation of its Digital Labs, the Newrest Group has developed its own digital tools designed to generate continuously improving sales each year. At Newrest Travel Retail, we create, develop, design, and take care of production and logistics for all kinds of on-board equipment, with advanced designs and solutions to make your company a benchmark. We want to be different, just like you do, and to make it happen we develop new designs, come up with new ideas for reducing costs, and conquer new customization challenges? We associate with strategic partners what enables us to create bespoke concepts and solutions. Airline and railway companies? images inspire us to create customized worlds that accompany each passenger?s experience. We create, develop, design and produce concepts for on-board services, adapting to the corporate identity flexibly to generate value for your company. Present in France, Spain and the Netherlands, the Inflight division of Newrest Travel Retail operates in 28 airports with 14 companies carrying out more than 200,000 annual flights. The digital solutions developed and deployed by Newrest on more than 3,000 mobile terminals (POS) enabled the collection on board of 10 million transactions over the last 12 months.

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Newrest Travel Retail News

... will include a new restaurant and retail space, new rest rooms, ... a great option for both leisure and business travel,” Jones added.

World Travel Catering & Onboard Services Expo (WTCE) returns to Hamburg ... food service equipment, hygiene, onboard retail and logistics.

World Travel Catering & Onboard Services Expo (WTCE) is returning to Hamburg Messe for ... including dnata, Newrest, SATS Catering and LSG.

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Newrest: sporting and supportive challenges around the world

North africa

South africa

A look back at the sporting and supportive initiatives undertaken by Newrest units around the world for the “One Team Unlimited Challenge”.

Every year, Newrest teams take up challenges in their units to strengthen team spirit, unite for a cause and surpass themselves as a team.

Triathlon d’Oléron for Pink October (France) : The France inflight unit took up the challenge of participating in the Oléron triathlon in October 2023. Five employees from various departments tackled a demanding course of 750 m swim, 20 km bike ride and 5 km run. Registration fees were donated to breast cancer research. Well done to them!

Climb in Bolivia: 22 collaborators in Bolivia undertook a 2,000-metre ascent! Not only did they rise to this physical challenge, but they also collected garbage along the way and brought equipment to the volunteer firemen of Santiago de Chiquitos, who are fighting forest fires.

Soccer tournament in South Africa: 32 collaborators from 3 units in South Africa took part in a soccer tournament in aid of the Ubuhle Bezwe Child Care Centre association, which supports disadvantaged children. Team spirit and solidarity were the order of the day.

Walk for ODYSSEA on Reunion Island: Around twenty collaborators from the inflight and retail units on Reunion Island walked 5 km in support of breast cancer research. A day dedicated to commitment and volunteering.

“Binter Night Run” in Gran Canaria (Spain): Spanish teams took part in the 10th edition of the “Binter Night Run de Gran Canaria”. This charity run raised funds for the “Banco de Alimentos de Las Palmas” organization, which helps disadvantaged families.

Olympics in Uganda: Newrest Uganda organized an Olympics for its collaborators, with sports and fun games such as tug-of-war, sack race and egg race. Participants also cleaned up the path leading to the Newrest site, demonstrating their commitment to the environment.

Colombia embarked on an ecological challenge: some 30 collaborators left Bogotá to travel north of the city to “Periland Eco Park in Cajicá”. They took part in a stretching session led by Nelson Rico, their wellness coordinator. Afterwards, they discovered native plant species and local biodiversity.

Each participant received two native species to plant, thus actively contributing to sustainable development and leaving a green footprint in the Periland eco-park. The Green Forests Foundation issued certificates for each species planted, partially offsetting the carbon footprint.

Costa Rica at the top: On December 15, Newrest teams in Costa Rica took on an exceptional challenge. They hiked 10 km up the Mantra Trail, offering magnificent views of the surrounding countryside. This mountain outing strengthened the bonds between colleagues and was a convivial moment.

Scandinavia takes on the Montane Kong Vinter: Newrest Scandinavia successfully took on the Montane Kong Vinter challenge, a team race involving 20 km of orienteering and running, 50 km of mountain biking and climbing in the Copenhagen area. The winners finished within the allotted time, surpassing their limits and enjoying the magnificent landscapes.

Soccer tournament in Nigeria : In Nigeria, Newrest teams organized several soccer tournaments between January and February 2024 at Airforce Secondary School in Ikeja. The days consisted of 2 soccer matches per day, with 6 teams from LOS units and 4 teams from ABV units. A tug-of-war game was also organized for the women. All the teams had a great time!

São Paulo International Marathon 2024 (Brazil): On April 7, three members of the Newrest GRU/Brazil team took on the challenge of the São Paulo marathon. They underwent rigorous training with a professional runner to prepare for the event. The race took place over 42 km through the bustling streets of São Paulo, bringing together over 18,000 runners in four different races. A great performance by our 3 finishers!

Successful rowing challenge for Newrest Turkey: On May 9 and 10, our teams in Turkey took up the internal “One Team Unlimited Challenge”. Divided into two groups of 15 people, 30 collaborators took part in this adventure, with four people in each canoe. They found themselves rowing on the Bosphorus, in Istanbul’s famous Halic (Golden Horn) district, a place steeped in history. The second day saw a friendly competition between the participants on the undulating waters of the Sea of Marmara. An unforgettable experience that strengthened the team spirit and determination of our employees!

Climbing Mount Snowdon (UK): Last week, 11 collaborators from our London Heathrow and Manchester units took on the challenge of climbing one of the UK’s highest peaks. Snowdon is a 1,085-meter-high mountain in the Snowdonia region of North Wales. They hiked 14.4 km along the Llanberis trail and reached the summit after a climb of 2 hours and 45 minutes. Well done to all team members for their achievement, they all showed determination and pushed their limits to meet this challenge.

Riding through the city of Phnom Penh (Cambodia): Some forty of our collaborators in Cambodia embarked on a 27 km bike ride to discover the city of PHNOM PENH. Despite extreme weather conditions in the early hours of the morning, this adventure was a great example of team spirit, mutual aid, and solidarity, which enabled them to successfully complete the long journey. Continuing their CSR commitment, they took the initiative to clean up the Bassac river canal. These shared moments are proof that when we work together, we can achieve great things, while taking care of our planet.

Eco-Responsible Orientation Walk (Normandy, France): Our collaborators in Normandy organized a 5km orienteering walk on May 17 in the Roumard forest.

31 collaborators took part in the challenge, including 19 from the Barentin central kitchen and 12 from the DR Ouest head office. Teams had to answer a series of riddles to reach each stage, and then make their way around the forest using the maps available on site.

By combining physical activity with awareness of important issues such as food waste, waste management, sustainable purchasing, digitalization and health and safety, they created an interactive and engaging learning experience.

These initiatives reflect Newrest’s values: surpassing oneself, solidarity, and team spirit. The Group looks forward to the next challenges from its teams around the world! The next challenges will be in Morocco, Atlanta(US) and France, with teams from our head office in Toulouse and several other cities around the country. Stay tuned!

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2024 chefs unlimited seminar, live cooking show 🍳👨‍🍳, the one team unlimited challenge is still running around the world 🌍​, “pedal for the planet”​ with newrest cambodia, the environment and sport in the spotlight thanks to the one team unlimited challenge 🌴​🏃​, the one team unlimited challenge is still on , newrest cambodia has been involved in the cambodia ten’s rugby tournament that took place end of 2023 in phnom penh, don’t limit your challenges, challenge your limits 💪.

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A Guide on Travel Retail: Definition, Growth Factors, and Future Prospects

Travel retail industry is one of the major subsidiary yet standalone industries of the travel and tourism sector. Since the last few years, barring the pandemic period, this industry has seen a substantial rise in terms of its growth number. Though one of the obvious reasons behind the growth in travel retail industry is the growth in number of travelers, there are certain growth factors which are characteristic to the travel retail industry itself.

In the 1700s, there was a shift from primary economic activities like agriculture, mining, etc. to secondary sector constituting manufacturing, construction, etc. This shift was primarily facilitated by the Industrial Revolution which was kickstarted in the Great Britain. Consequently, on similar lines, the ICT revolution enabled a shift from secondary to tertiary sector which predominantly constituted of service-oriented economic activities. One of the biggest industries that emerged out of the tertiary sector was the travel and tourism industry.

What is Travel Retail and Why is it on the Rise Since the Last Few Years?

In the last few decades, especially after the opening of majority of the global economies post-1991, travel and tourism industry has grown like anything else. Some economists even consider it to be a separate economic sector altogether. On account of this growth, several subsidiary and standalone industries have propped up and thrived under the travel and tourism sector. One such standalone industry is the global travel retail industry. Travel retail pertains to creating, planning, and providing travel services, while at the same time, engaging in sales activities to cater to the shoppers’ demands while they are in transit.

The growth in the travel retail market is mainly attributed to four main factors which are discussed below:

• Boom in the Travel Industry on the Whole

Except the aberration witnessed in the last two years due to the Covid-19 pandemic, there has been a steady growth in the number of people travelling across the globe. Though the reasons for travel might be different for each individual, the travel retail industry has been able to fulfill their varied demands efficiently. Hence, a growth in the travel industry has been mirrored by the travel retail industry. Also, since people have been exploring countries and places that were previously not so often visited, the travel retail industry has found new ways and avenues to offer their services.

• Travelers Tend to Shop More

Studies by various behavioral economists have shown that travelers, especially the ones going out for vacations, tend to shop more. This shift from a thrift behavior, according to these experts, is due to the leisurely atmosphere and stress-free state of mind. Also, since travelers have a lot of free time at their disposal, they can shop for longer periods of time. Another interesting theory as to why people spend more at transit channels, such as airports , is that the infrastructure inside airports is built on the concept of open-plan setups. As a result, luxury shopping and casual shopping spaces are intertwined in each other, thus blurring the lines between the two.

• Accurate Data Insights

The retailers engaging in travel retail and sales activities have an added advantage of accurate information about their customers. Their travel and departure times, the type of aircrafts they are travelling, their destination, etc. helps the retailer in getting a brief idea as to what the traveler might be looking for. This helps these retailers to plan their sale strategy accordingly, which helps in maximizing their profits. Also, providing customer service to the passengers or people in transit becomes much easier due to these vital data points.

• Better Showcasing of Products

Since travelers tend to shop more products and spend more on luxury items during their travel, they tend to appreciate certain products more than in normal circumstances. This provides the companies and travel retailers to showcase their products and test whether the products are sellable. Hence, various international brands of different sectors tend to launch and market their unique products through the travel retail industry.

Future of Travel Retail Industry

Though the Covid-19 pandemic and the subsequent lockdowns put a strain on the travel and the travel retail industries, market analysts are confident that both these industries will register huge growth rates in the post-pandemic world. Also, digitization of financial services has improved the quality of shopping experience at the transit channels and has helped in reducing the complexities associated with foreign currency exchange. Moreover, the introduction of smart technologies has further improved data collection, which has helped travel retailers to improve their business strategies in a much better way. All these factors point toward a great future of the global retail travel industry.

About the Author(s)

Princy A. J

Princy holds a bachelor’s degree in Civil Engineering from the prestigious Tamil Nadu Dr. M.G.R. University at Chennai, India. After a successful academic record, she pursued her passion for writing. A thorough professional and enthusiastic writer, she enjoys writing on various categories and advancements in the global industries. She plays an instrumental role in writing about current updates, news, blogs, and trends.

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Ireland’s ari needs to pick up speed versus rival travel retailers.

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ARI has an impressive new beauty offer at Abu Dhabi Airport.

The global travel retail business of Dublin-based Aer Rianta International (ARI) surged by 13.9% last year, reaching a managed turnover of €1.24 billion. However, the increase failed to keep pace with its European competitors in the duty-free channel.

Although they are larger in terms of turnover, European peers—predominantly operating in the airport market—had a better time: Avolta grew by 22% , Lagardère Travel Retail by 23% , and Gebr. Heinemann by 25%

Like those retailers, ARI’s double-digit, year-over-year growth was underpinned by higher passenger volumes and what the Irish company said were “record passenger spends.” ARI’s CEO, Ray Hernan, noted that some of the airport locations where it is present also achieved record sales.

Despite advancing at a slower pace than its rivals, Hernan was pleased, describing 2023 as “a very successful year.” He added: “The remarkable performance across all our locations is a testament to our colleagues and teams providing exceptional retail experiences for travelers.”

ARI is treating 2023 as a recovery year and said that many business units achieved historically high turnover and levels of profitability. The company has direct or indirect retail interests in 14 countries in North America, Europe, South Asia, and the Middle East, plus minority shareholdings in Düsseldorf Airport in Germany, and Larnaca and Paphos airports in Cyprus.

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A core market for ARI is Canada which performed in line with 2019 levels even though pre-pandemic Chinese high-spenders are still thin on the ground. The retailer opened a freestanding Chanel duty-paid store at Vancouver International Airport last September and followed up in Edmonton Airport in mid-January 2024 with duty-free retail spaces, having won a contract to operate there in 2023.

ARI’s longest-standing business in Canada—some 25 years—is at Montréal-Trudeau Airport which was rebranded as Montréal Duty Free last year.

ARI's Chanel boutique at Vancouver International Airport.

In its home market, ARI runs the retail operations at Dublin and Cork airports, the country’s two busiest. Both gateways saw surging passenger numbers last year, topping 2019 levels. The airports delivered strong growth for ARI across all categories, helped by the retailer stepping up its airport-exclusive products and first-to-market offerings in liquor, beauty, and confectionery.

Cyprus tops $100 million

In the rest of Europe, ARI’s joint venture with airport operator ANA in Portugal traded ahead of plan in its first full year of operation. This year, the focus is on the completion of a refurbishment to improve the retail experience in its mix of stores.

ARI's CEO Ray Hernan: “Our intention (is) to seek growth in key markets in the coming year, while ... [+] also maximizing our current operations.”

Larnaca and Paphos airports in Cyprus performed significantly better than 2019 with turnover exceeding €100 million ($108 million) for the first time. The business returned a healthy profit, helped by a strong summer peak. ARI noted: “The business continues to benefit from the spend from U.K. passengers following the reintroduction of duty-free shopping, post Brexit.”

Elsewhere in Europe, ARI’s operations at Podgorica and Tivat airports in Montenegro also traded profitably despite the lack of Russian and Ukrainian passengers. Many of those travelers have been frequenting Cyprus since Russia first attacked Ukraine in February 2022.

Middle East hopes

The Israel-Gaza war also had some impact on ARI which has a strong position in the Middle East. The retailer has operations in nearby Beirut Airport, Lebanon, where traffic was up by 12% overall last year, though the final quarter saw a 24% collapse in tourist arrivals according to Lebanon’s Ministry of Tourism.

Most of ARI’s operations in the region are further away in the Gulf. There, the travel retailer expanded its footprint by opening some eye-catching stores at the new terminal of Abu Dhabi’s Zayed International Airport.

In joint venture with a local partner, ARI, since November 2023, now operates the perfume, cosmetics, skincare, jewelry, and sunglasses categories in the terminal. The airport serves Abu Dhabi, the capital and economic hub of the United Arab Emirates (UAE), and should become a big revenue generator in 2024.

Elsewhere in Middle Eastern airports, ARI also had an uptick in business in Riyadh, Saudi Arabia; Muscat, Oman where trading was boosted by liquor and tobacco allowances in arrivals; and at Bahrain Duty Free. Finally in India, ARI’s joint venture at Delhi’s Indira Gandhi Airport delivered a performance described as “exceptional.”

In the current year, the retailer will be looking to open up more locations. “Our intention (is) to seek growth in key markets in the coming year, while also maximizing our current operations,” said Hernan. That means “exploring new territories” in the CEO’s words.

ARI has also revamped its branding last year and added the tag ‘Joy On Your Way’ in an attempt to set out a clear proposition that differentiates it from competitors. This followed many months of research. “We’re serious about joy,” Hernan quipped.

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Now boarding: Faces, places, and trends shaping tourism in 2024

After falling by 75 percent in 2020, travel is on its way to a full recovery by the end of 2024. Domestic travel is expected to grow 3 percent annually and reach 19 billion lodging nights per year by 2030. 1 Unless otherwise noted, the source for all data and projections is Oxford Economics. Over the same time frame, international travel should likewise ramp up to its historical average of nine billion nights. Spending on travel is expected to follow a similar trajectory, with an estimated $8.6 trillion in traveler outlays in 2024, representing roughly 9 percent of this year’s global GDP.

About the authors

This article is a collaborative effort by Caroline Tufft , Margaux Constantin , Matteo Pacca , and Ryan Mann , with Ivan Gladstone and Jasperina de Vries, representing views from McKinsey’s Travel, Logistics & Infrastructure Practice.

There’s no doubt people still love to travel and will continue to seek new experiences in new places. But where will travelers come from, and where will they go? We developed a snapshot of current traveler flows, along with estimates for growth through 2030. For the purposes of this report, we have divided the world into four regions—the Americas, Asia, Europe, and the Middle East and Africa.

Our analysis identifies three major themes for industry stakeholders to consider:

• The bulk of travel spending is close to home. Stakeholders should ensure they capture the full potential of domestic travel before shifting their focus to international travelers. And they should start with international travelers who visit nearby countries—as intraregional trips represent the largest travel segment after domestic trips.
• Source markets are shifting. Although established source markets continue to anchor global travel, Eastern Europe, India, and Southeast Asia are all becoming fast-growing sources of outbound tourism.
• The destinations of the future may not be the ones you imagine. Alongside enduring favorites, places that weren’t on many tourists’ maps are finding clever ways to lure international travelers and establish themselves as desirable destinations.

The bulk of travel spending is close to home

International travel might feel more glamorous, but tourism players should not forget that domestic travel still represents the bulk of the market, accounting for 75 percent of global travel spending (Exhibit 1). Domestic travel recovered from the COVID-19 pandemic faster than international travel, as is typical coming out of downturns. And although there has been a recent boom in “revenge travel,” with travelers prioritizing international trips that were delayed by the pandemic, a return to prepandemic norms, in which domestic travel represents 70 percent of spending, is expected by 2030.

The United States is the world’s largest domestic travel market at $1 trillion in annual spending. Sixty-eight percent of all trips that start in the United States remain within its borders. Domestic demand has softened slightly, as American travelers return abroad. 2 Dawit Habtemariam, “Domestic U.S. tourism growth levels off as Americans head overseas,” Skift, August 18, 2023. But tourism players with the right offerings are still thriving: five national parks broke attendance records in 2023 (including Joshua Tree National Park, which capitalized on growing interest from stargazers indulging in “dark sky” tourism 3 Scott McConkey, “5 national parks set attendance records in 2023, and the reasons may surprise you,” Wealth of Geeks, April 16, 2024. ).

China’s $744 billion domestic travel market is currently the world’s second largest. Chinese travelers spent the pandemic learning to appreciate the diversity of experiences on offer within their own country. Even as borders open back up, Chinese travelers are staying close to home. And domestic destinations are benefiting: for example, Changchun (home to the Changchun Ice and Snow Festival) realized 160 percent year-on-year growth in visitors in 2023. 4 Shi Xiaoji, “Why don’t Chinese people like to travel abroad anymore? The global tourism industry has lost 900 billion yuan. What is the situation?,” NetEase, February 12, 2024. In 2024, domestic travel during Lunar New Year exceeded prepandemic levels by 19 percent.

China’s domestic travel market is expected to grow 12 percent annually and overtake the United States’ to become the world’s largest by 2030. Hotel construction reflects this expectation: 30 percent of the global hotel construction pipeline is currently concentrated in China. The pipeline is heavily skewed toward luxury properties, with more than twice as many luxury hotels under construction in China as in the United States.

India, currently the world’s sixth-largest domestic travel market by spending, is another thriving area for domestic travel. With the subcontinent’s growing middle class powering travel spending growth of roughly 9 percent per year, India’s domestic market could overtake Japan’s and Mexico’s to become the world’s fourth largest by 2030. Domestic air passenger traffic in India is projected to double by 2030, 5 Murali Krishnan, “Can India’s airports cope with rapid passenger growth?,” Deutsche Welle, February 7, 2024. boosted in part by a state-subsidized initiative that aims to connect underserved domestic airports. 6 “India is seeing a massive aviation boom,” Economist , November 23, 2023.

When travelers do go abroad, they often stay close to home (Exhibit 2).

Europe and Asia, in particular, demonstrate strong and growing intraregional travel markets.

Recognizing this general trend, stakeholders have been funneling investment toward regional tourism destinations. An Emirati wealth fund, for instance, has announced its intent to invest roughly $35 billion into established hospitality properties and development opportunities in Egypt. 7 Michael Gunn and Mirette Magdy, “UAE’s $35 billion Egypt deal marks Gulf powers’ buying spree,” Bloomberg, April 27, 2024.

Europe has long played host to a high share of intraregional travel. Seventy percent of its travelers’ international trips stay within the region. Europe’s most popular destinations for intraregional travelers are perennial warm-weather favorites—Spain (18 percent), Italy (10 percent), and France (8 percent)—with limited change to these preferences expected between now and 2030.

Despite longer travel distances between Asian countries, Asia’s intraregional travel market is beginning to resemble Europe’s. Intraregional travel currently accounts for about 60 percent of international trips in Asia—a share expected to climb to 64 percent by 2030. As in Europe in past decades, Asian intraregional travel is benefiting from diminishing visa barriers and the development of a low-cost, regional flight network.

Thailand is projected to enjoy continued, growing popularity with Asian travelers. Thailand waived visa requirements for Chinese tourists in 2023 and plans to do the same for Indian tourists starting in 2024. It has aggressively targeted the fast-growing Indian traveler segment, launching more than 50 marketing campaigns directed at Indians over the past decade. The investment may be paying off: Bangkok recently overtook Dubai as the most popular city destination for Indian tourists. 8 “Bangkok overtakes Dubai as top destination for Indians post visa relaxation, reveals Agoda,” PR Newswire, January 18, 2024.

A McKinsey ConsumerWise survey on consumer sentiment, conducted in February 2024, suggests that Chinese travelers are also exhibiting high interest in international travel, with 36 percent of survey respondents indicating that they intend to spend more on international travel in the next three months. 9 Daniel Zipser, “ China brief: Consumers are spending again (outside of China) ,” McKinsey, April 8, 2024. Much of this interest is directed toward regional destinations such as Southeast Asia and Japan, with interest in travel to Europe down from previous years. 10 Guang Chen, Zi Chen, Steve Saxon, and Jackey Yu, “ Outlook for China tourism 2023: Light at the end of the tunnel ,” McKinsey, May 9, 2023.

Given travelers’ preference for proximity, how can tourism stakeholders further capitalize on domestic and intraregional travel demand? Here are a few strategies:

• Craft offerings that encourage domestic tourists to rediscover local gems. Destinations, hotels, and transportation providers can encourage domestic tourists to integrate lesser-known cultural landmarks into their trips to visit friends and relatives. In France, the upscale hotel chain Relais & Châteaux markets historic properties that lie far from classic tourist sights—such as Château Saint-Jean in rural Auvergne—as a welcome escape from the bustle of Paris. In Mexico, the Pueblos Mágicos program has successfully boosted domestic tourist visits to a set of “magical towns” that showcase Mexican heritage.
• Fold one-off domestic destinations into fuller itineraries. Route 66 in the United States is a classic road trip pathway, which spurs visits to attractions all along the highway’s length. Tourism stakeholders can collaborate to create similar types of domestic itineraries around the world. For instance, Mexico has expanded on its Pueblos Mágicos concept by branding coordinated visits to multiple villages as “magical routes.” In France, local tourism boards and vineyards have collaborated to promote bucket list “wine routes” around the country.
• Make crossing borders into neighboring countries seamless. Removing logistical barriers to travel can nudge tourists to upgrade a one-off trip to a single attraction into a bucket list journey across multiple, less-trodden destinations. In Africa, for example, Ethiopian Airlines is facilitating cross-border travel to major regional tourist sites through improved air connectivity. In Asia, Thailand has announced its intent to create a joint visa easing travel among Cambodia, Laos, Malaysia, Myanmar, Thailand, and Vietnam.

Source markets are shifting

The United States, Germany, the United Kingdom, China, and France remain the world’s five largest sources of travelers, in that order. These countries collectively accounted for 38 percent of international travel spending in 2023 and are expected to remain the top five source markets through 2030. But interest in travel is blossoming in other parts of the world—causing a shift in the balance of outbound travel flows (Exhibit 3).

North Americans’ travel spending is projected to hold steady at roughly 3 percent annual growth. US consumers voice growing concerns about inflation, and the most cost-constrained traveler segments are reducing travel, which is affecting ultra-low-cost airlines and budget hotels. Most travelers, however, plan to continue traveling: McKinsey research suggests that American consumers rank international and domestic travel as their highest-priority areas for discretionary spending. Instead of canceling their trips, these consumers are adapting their behavior by traveling during off-peak periods or booking travel further in advance. Travel spending by Europeans paints a slightly rosier picture, with roughly 5 percent projected annual growth. Meanwhile, the projected 12 percent annual growth in Chinese travelers’ spending should anchor substantial increases in travel spending across Northeast Asia.

Alongside these enduring traveler segments, new groups of travelers are emerging. Eastern Europe, India, and Southeast Asia are still comparatively small source markets, but they are developing fast-growing pools of first-time tourists (Exhibit 4).

India’s breakneck GDP growth of 6 percent year over year is bolstering a new generation of travelers, 11 Benjamin Laker, “India will grow to become the world’s third-largest economy by 2027,” Forbes , February 23, 2024. resulting in a projected annual growth in travel spending of 9 percent between now and 2030. Indian air carriers and lodging companies are making substantial investments to meet projected demand. Budget airline IndiGo placed the largest aircraft order in commercial aviation history in 2023, when it pledged to buy 500 Airbus A320 planes 12 Anna Cooban, “Biggest plane deal in history: Airbus clinches massive order from India’s IndiGo,” CNN, June 19, 2023. ; that same week, Air India nearly equaled IndiGo’s order size with purchase agreements for 250 Airbus and 220 Boeing jets. IndiGo later added an order for 30 additional Airbus A350 planes, well suited to serving both domestic and international routes. 13 “Airbus confirms IndiGo's A350 aircraft order,” Economic Times , May 6, 2024. The Indian Hotels Company Limited is ramping up its hotel pipeline, aiming to open two new hotels per month in the near future. International players are not sitting on the sidelines: seven hotel chains are launching new brands in India in 2024, 14 Peden Doma Bhutia, “Indian Hotels expansion plans: 2 new brands launching, 2 hotels opening every month,” Skift, February 2, 2024. including Marriott’s first Moxy- and Tribute-branded hotels in India and entrants from Hilton’s Curio and Tapestry brands. 15 Forum Gandhi, “Check-in frenzy: International hotel giants unleash fresh brands in India’s booming hospitality landscape,” Hindu Businessline , February 13, 2024. Development focus has shifted away from major metropolises such as Mumbai and Delhi and toward fast-developing, smaller cities such as Chandigarh and Hyderabad.

Southeast Asian travel spending is projected to grow at roughly 7 percent per year. Pockets of particularly high growth exist in Cambodia, Malaysia, and the Philippines. To capitalize on this blossoming source market, neighboring countries are rolling out attractive visa arrangements: for example, China has agreed to reciprocal visa waivers for short-term travelers from Malaysia, Singapore, and Thailand. 16 Julienna Law, “China launches ‘visa-free era’ with Southeast Asia. Will travel retail boom?,” Jing Daily , January 30, 2024.

Travel spending by Eastern Europeans is expected to grow at 7 percent per year until 2030—two percentage points higher than spending by Western Europeans. Areas of especially high growth include the Czech Republic, Hungary, and Poland, where middle-class travelers are increasingly venturing farther afield. Major tourism players, including the TUI Group, have tapped into these new source markets by offering charter flights to warm-weather destinations such as Egypt. 17 Hildbrandt von Klaus, “TUI develops Czech Republic as a new source market,” FVW, December 22, 2023.

Although the number of travelers from these new source markets is growing, their purchasing power remains relatively limited. Compared with Western European travelers (who average $159 per night in total travel spending), South Asians spend 20 percent less, Eastern Europeans spend 40 percent less, and Southeast Asians spend 55 percent less. Only 3 percent of the current Asian hotel construction pipeline caters to economy travelers, suggesting a potential supply gap of rooms that could appeal to budget-constrained tourists.

While acknowledging that historical source markets will continue to constitute the bulk of travel spending, tourism players can consider actions such as these to capitalize on growing travel demand from newer markets:

• Reduce obstacles to travel. Countries can look for ways to strategically invest in simplifying travel for visitors from growing source markets. In 2017, for example, Azerbaijan introduced express processing of electronic visas for Indian visitors; annual arrivals from India increased fivefold in two years. Requirements regarding passport photocopies or in-person check-ins can similarly be assessed with an eye toward reducing red tape for travelers.
• Use culturally relevant marketing channels to reach new demographics. Unique, thoughtful marketing strategies can help destinations place themselves on first-time travelers’ bucket lists. For example, after the release of Zindagi Na Milegi Dobara , a popular Bollywood movie shot in Spain with support from the Spanish Ministry of Tourism, Indian tourism to Spain increased by 65 percent. 18 “ Zindagi Na Milegi Dobara part of syllabus in Spain colleges,” India Today , June 6, 2004.
• Give new travelers the tech they expect. Travelers from newer source markets often have access to tech-forward travel offerings. For example, Indian travelers can travel anywhere within their country without physical identification, thanks to the Digi Yatra app. The Southeast Asian rideshare app Grab has several helpful travel features that competitors lack, such as automated menu translation and currency conversion. Tourism stakeholders should consider how to adapt to the tech expectations of newer travelers, integrating relevant offerings that ease journeys.
• Create vibrant experiences tailored to different price points. Crafting lower-budget offerings for more cost-constrained travelers doesn’t need to result in giving them a subpar experience. Capsule hotels, in which guests sleep in small cubbies, began as a response to the high cost of accommodations in Japan, but they have become an attraction in their own right—appearing on many must-do lists. 19 Philip Tang, “24 of the best experiences in Japan,” Lonely Planet, March 23, 2024.

The places you’ll go: The destinations of the future may not be the ones you imagine

The world’s top ten destination countries (the United States, Spain, China, France, Saudi Arabia, Türkiye, Italy, Thailand, Japan, and India, in that order) currently receive 45 percent of all travel spending, including for domestic travel. But some new locales are gaining traction (Exhibit 5).

A significant number of travelers are expanding their horizons, booking journeys to less visited countries that are near to old standbys. For instance, Laos and Malaysia, which both border Thailand—an established destination that is home to Bangkok, the world’s most visited city 20 Katherine LaGrave, “This is the world’s most visited city,” AFAR , January 31, 2024. —are up a respective 20 percent and 17 percent, respectively, in year-over-year international travel spending.

The world’s top ten destination countries currently receive 45 percent of all travel spending, including domestic-travel spending. But some new locales are gaining traction.

Several other countries that have crafted thoughtful tourism demand generation strategies—such as Peru, the Philippines, Rwanda, and Vietnam—are also expected to reap benefits in the coming years. Vietnam logged a remarkable 40 percent increase in tourism spending in the five years before the pandemic. Postpandemic, it has rebounded in part by waiving visa requirements for European travelers (while indicating intent to offer similar exemptions in the future for Chinese and Indian travelers). 21 Ashvita Singh, “Vietnam looks to offer visa-free entry to Indians: India report,” Skift, November 20, 2023. The Philippines has made a concerted effort to shift its sun-and-beach branding toward a more well-rounded image, replacing its long-standing “It’s more fun in the Philippines” tourism slogan with “Love the Philippines.” Peru is highlighting less visited archeological sites while also marketing itself as a top-notch culinary destination through the promotion of Peruvian restaurants abroad. Rwanda is investing in infrastructure to become a major African transit hub, facilitated by Qatar Airways’ purchase of a 60 percent stake in the country’s major airport. 22 Dylan Cresswell, “Rwanda plots ambitious tourism recovery,” African Business , July 28, 2022. Rwanda has also successfully capitalized on sustainable tourism: by charging $1,500 per gorilla trekking permit, for instance, it has maximized revenue while reducing environmental impact.

Tourism players might consider taking some of these actions to lure tourists to less familiar destinations:

• Collaborate across the tourism ecosystem. Promotion is not solely the domain of destination marketing organizations. Accommodation, transportation, and experience providers can also play important roles. In Singapore, for instance, the luxury resort Marina Bay Sands partners extensively with Singapore Airlines and the Singapore Tourism Board to offer compelling tourism offerings. Past collaborations have included flight and stay packages built around culinary festivals and a Lunar New Year drone show. 23 “Singapore Tourism Board, Marina Bay Sands & UOB partner to enliven Marina Bay precinct,” Singapore Tourism Board news release, January 25, 2024.
• Use infrastructure linkage to promote new destinations. By extending route options, transportation providers can encourage visitors to create itineraries that combine familiar destinations with new attractions. In Asia, Thailand’s tourism authority has attempted to nudge visitors away from the most heavily trafficked parts of the country, such as Bangkok and Phuket, and toward less popular destinations.
• Deploy social media to reach different demographics. Innovative social media campaigns can help put a destination on the map. Australia launched its “Ruby the kangaroo” campaign in China to coincide with the return of postpandemic air capacity between the two places. A video adapted for Chinese context (with appropriate gestures and a hashtag in Mandarin) garnered more than 20 million views in a single day on one of China’s largest social media platforms. 24 Nicole Gong, “Can Ruby the kangaroo bring Chinese tourists hopping back to Australia?,” SBS, June 5, 2023.
• Embrace unknown status. “Off the beaten path” messaging can appeal to widely traveled tourists seeking fresh experiences. Saudi Arabia’s “#WhereInTheWorld” campaign promoted the country’s tourist spots by acknowledging that they are less familiar to travelers, using a series of images that compared these spots with better-known destinations.

As tourism stakeholders look to the future, they can take steps to ensure that they continue to delight existing travelers while also embracing new ones. Domestic and intraregional tourism remain major opportunities—catering to local tourists’ preferences while building infrastructure that makes travel more seamless within a region could help capture them. Creative collaboration among tourism stakeholders can help put lesser-known destinations on the map. Travel tides are shifting. Expertly navigating these currents could yield rich rewards.

Caroline Tufft is a senior partner in McKinsey’s London office, Margaux Constantin is a partner in the Dubai office, Matteo Pacca is a senior partner in the Paris office, Ryan Mann is a partner in the Chicago office, Ivan Gladstone is an associate partner in the Riyadh office, and Jasperina de Vries is an associate partner in the Amsterdam office.

The authors wish to thank Abdulhadi Alghamdi, Alessandra Powell, Alex Dichter, Cedric Tsai, Diane Vu, Elisa Wallwitz, Lily Miller, Maggie Coffey, Nadya Snezhkova, Nick Meronyk, Paulina Baum, Peimin Suo, Rebecca Stone, Sarah Fellay, Sarah Sahel, Steffen Fuchs, Steffen Köpke, Steve Saxon, Sophia Wang, and Urs Binggeli for their contributions to this article.

This article was edited by Seth Stevenson, a senior editor in the New York office.

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Buc-ee’s to open largest location yet next month in Texas

The 50th buc-ee’s is 75,000 square feet and replaces the brand’s first-ever travel center, which opened in luling in 2003..

By Lilly Kersh

2:10 PM on May 28, 2024 CDT — Updated at 5:06 PM on May 28, 2024 CDT

Buc-ee’s will open its doors to its 50th location and its largest travel center in the country on June 10 in Luling, the town “where the legend began,” 21 years after it opened its first family travel center in the city in 2003.

The original Luling location will be replaced by the new 75,000-square-foot rest stop, an almost 40,000-square-foot increase. The original travel center was just over 36,000 square feet.

“In the past, [the Luling store] was one of the biggest locations of any travel center,” director of operations Josh Smith said. “Now that we’ve grown and expanded, we’re just wanting to bring that title back to Luling since that’s where it all started for us.”

The company’s travel centers are known for their size and wide range of products and merchandise. The Luling center will have at least 200 employees, 120 fueling positions and thousands of food and drink options, according to a statement from Buc-ee’s. The store will serve barbecue, fudge, Beaver Nuggets, jerky, pastries, kolaches and more.

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Luling is in South Texas, nearly 60 miles east of San Antonio off of Interstate 10.

The Buc-ee’s convenience store chain was founded in Clute, Texas in 1982. Smith said the brand’s first stores were average convenience stores with 6 to 12 pumps. But in 2003, the company built its first “family travel center” in Luling, expanding on the original rest stops.

In 2019, Buc-ee’s began a multistate expansion and now has rest stops in more than ten states across the South, including 35 currently open in Texas alone.

“It’s extremely important for us because Texas is our roots,” Smith said. “Bringing it all back home is one of those things that’s extremely prideful.”

The Luling travel center is just 1,000 square feet larger than the three next largest Buc-ee’s centers. Sevierville, Tenn., Hillsboro, Texas and Johnstown, Colo. each have 74,000-square-foot Buc-ee’s locations but will be just barely surpassed by the store opening in Luling.

The chain’s 51st location will open a week after the Luling travel center opens its doors. Smith said the 53,000-square-foot store will be in Smiths Grove, Ken.

Lilly Kersh , Staff Writer

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5 things to know about Memorial Day, including its evolution and controversies

FILE - The sun shines through the flags in the Memorial Day Flag Garden on Boston Common, May 27, 2023, in Boston. Memorial Day is supposed to be about mourning the nation’s fallen service members. But it’s come to anchor the unofficial start of summer and retail discounts. (AP Photo/Michael Dwyer, file)

FILE - A member of the 3rd U.S. Infantry Regiment also known as The Old Guard, places flags in front of each headstone for “Flags-In” at Arlington National Cemetery in Arlington, May 25, 2023, to honor the Nation’s fallen military heroes ahead of Memorial Day. Memorial Day is supposed to be about mourning the nation’s fallen service members. But it’s come to anchor the unofficial start of summer and retail discounts. (AP Photo/Andrew Harnik, file)

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NORFOLK, Va. (AP) — Memorial Day is supposed to be about mourning the nation’s fallen service members, but it’s come to anchor the unofficial start of summer and a long weekend of discounts on anything from mattresses to lawn mowers.

But for people such as Manuel Castañeda Jr., the day is very personal. He lost his father, a U.S. Marine who served in Vietnam, in an accident in 1966 in California while his father was training other Marines.

“It isn’t just the specials. It isn’t just the barbecue,” Castañeda told The Associated Press in a discussion about Memorial Day last year.

Castañeda also served in the Marines and Army National Guard, from which he knew men who died in combat. But he tries not to judge others who spend the holiday differently: “How can I expect them to understand the depth of what I feel when they haven’t experienced anything like that?”

1. WHY IS MEMORIAL DAY CELEBRATED?

It’s a day of reflection and remembrance of those who died while serving in the U.S. military, according to the Congressional Research Service. The holiday is observed in part by the National Moment of Remembrance, which encourages all Americans to pause at 3 p.m. for a moment of silence.

2. WHAT ARE THE ORIGINS OR MEMORIAL DAY?

The holiday stems from the American Civil War, which killed more than 600,000 service members — both Union and Confederate — between 1861 and 1865.

There’s little controversy over the first national observance of what was then called Decoration Day. It occurred May 30, 1868, after an organization of Union veterans called for decorating war graves with flowers, which were in bloom.

The practice was already widespread on a local level. Waterloo, New York, began a formal observance on May 5, 1866, and was later proclaimed to be the holiday’s birthplace.

Yet Boalsburg, Pennsylvania, traced its first observance to October 1864, according to the Library of Congress. And women in some Confederate states were decorating graves before the war’s end.

David Blight, a Yale history professor, points to May 1, 1865, when as many as 10,000 people, many of them Black, held a parade, heard speeches and dedicated the graves of Union dead in Charleston, South Carolina.

A total of 267 Union troops had died at a Confederate prison and were buried in a mass grave. After the war, members of Black churches buried them in individual graves.

“What happened in Charleston does have the right to claim to be first, if that matters,” Blight told The Associated Press in 2011 .

In 2021, a retired U.S. Army lieutenant colonel cited the story in a Memorial Day speech in Hudson, Ohio. The ceremony’s organizers turned off his microphone because they said it wasn’t relevant to honoring the city’s veterans. The event’s organizers later resigned .

3. HAS MEMORIAL DAY ALWAYS BEEN A SOURCE OF CONTENTION?

Someone has always lamented the holiday’s drift from its original meaning.

As early as 1869, The New York Times wrote that the holiday could become “sacrilegious” and no longer “sacred” if it focuses more on pomp, dinners and oratory.

In 1871, abolitionist Frederick Douglass feared Americans were forgetting the Civil War’s impetus — enslavement — when he gave a Decoration Day speech at Arlington National Cemetery.

“We must never forget that the loyal soldiers who rest beneath this sod flung themselves between the nation and the nation’s destroyers,” Douglass said.

His concerns were well-founded, said Ben Railton, a professor of English and American studies at Fitchburg State University in Massachusetts. Even though roughly 180,000 Black men served in the Union Army, the holiday in many communities would essentially become “white Memorial Day,” especially after the rise of the Jim Crow South, Railton told the AP in 2023.

Meanwhile, how the day was spent — at least by the nation’s elected officials — could draw scrutiny for years after the Civil War. In the 1880s, then-President Grover Cleveland was said to have gone fishing — and “people were appalled,” Matthew Dennis, an emeritus history professor at the University of Oregon, told the AP last year.

By 1911, the Indianapolis 500 held its inaugural race on May 30, drawing 85,000 spectators. A report from The Associated Press made no mention of the holiday — or any controversy.

4. HOW HAS MEMORIAL DAY CHANGED?

Dennis said Memorial Day’s potency diminished somewhat with the addition of Armistice Day, which marked World War I’s end on Nov. 11, 1918. Armistice Day became a national holiday by 1938 and was renamed Veterans Day in 1954.

An act of Congress changed Memorial Day from every May 30th to the last Monday in May in 1971. Dennis said the creation of the three-day weekend recognized that Memorial Day had long been transformed into a more generic remembrance of the dead, as well as a day of leisure.

In 1972, Time Magazine said the holiday had become “a three-day nationwide hootenanny that seems to have lost much of its original purpose.”

5. WHY IS MEMORIAL DAY TIED TO SALES AND TRAVEL?

Even in the 19th century, grave ceremonies were followed by leisure activities such as picnicking and foot races, Dennis said.

The holiday also evolved alongside baseball and the automobile, the five-day work week and summer vacation, according to the 2002 book “A History of Memorial Day: Unity, Discord and the Pursuit of Happiness.”

In the mid-20th century, a small number of businesses began to open defiantly on the holiday.

Once the holiday moved to Monday, “the traditional barriers against doing business began to crumble,” authors Richard Harmond and Thomas Curran wrote.

These days, Memorial Day sales and traveling are deeply woven into the nation’s muscle memory.

Jason Redman, a retired Navy SEAL who fought in Iraq and Afghanistan, told the AP last year that he honors the friends he’s lost. Thirty names are tattooed on his arm “for every guy that I personally knew that died.”

He wants Americans to remember the fallen — but also to enjoy themselves, knowing lives were sacrificed to forge the holiday.

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